Under Construction

What a great fathers day weekend it was! I love to get spoiled by my kids. I hope all of you had great weekends as well. Did anyone watch the US Open? I kept waiting for Tiger to make a put, or hit a fairway, but it never materialized. Oh well, can't win them all.

I also spent more time this weekend making some adjustments on the blog. There are more to come, so brace yourself. A few ads, a book store (my reading list) and various logos are just a few of the changes you'll notice. Don't be threatened, they won't impact your visits. Feel free to look around though if you'd like.

I am looking for a few ideas this week, so leave a suggestion if you have one. I have a deadline to meet this afternoon, but I should be back later in the day.


Recommendation: Find me the next US Steel please

Long: MLM and loving it

Short: Realty and airlines

I know a few folks are looking for bearish plays. I posted this once before. Too late for a clean entry now but put it on your watch list.

Jeff, you guys ever thought of putting up a webcam???? I am sure everyone would love to see those fancy shorts of yours.

Long: POT & LOOP
Short: RAIN, the precipitation kind!!!

Been watching KOMG since last week. Drifting higer on less-than-average volume. Looks like today may be the day to jump in for a Put play.

Any thoughts on a two or three point downward move at least by September expiration? I didn't give ISIL enough time and jumped out too early because I was afraid of losing a few dollars. As a result, I missed the big up day. If I had an extra month or two....I would have stayed in and been happier. I hope this time I can be more patient.

Chuck from Orlando

Bottom Feeder,
You care to share what the ticker symbol is of this phantom stock?
(Laughter.)

Jeff,
I think GOOG and CME are setting up for the next leg higher. LCC has been a super put play. Got into it at the first of the month (5th) and it has been going and going. I also entered BA today. GMCR has almost hit its target. I put a stop on it to protect my profits and added to my position. Other stocks I love, but can't find an adding point are:
1) AAPL
2) MLM
3) POT
4) RIMM
5) DE
Hope there is something there you can use.
Thanks,

Randall and Michelle

Jeff,
Oh, did you mean "putt up there"?
Hey, you're thinking stocks even when watching golf (laughter.)

Michelle

bottomfeeder, if you see a big white spot where the videos should be, you probably need to get the latest version of flash player, which you can get here:

http://www.adobe.com/shockwave/download/download.cgi?P1_Prod_Version=ShockwaveFlash

Hey there Mr. Jeff..

I'd like a chat room, and also a link that we can click on that will place orders for delivery of WM's and Burittos (for Brett), and some Yuengling's for me. I don't think this is too much to ask for either.

Long: GS, GOOG, X, DO, PCU
Short: ALB, CAL

Chat room would be an excellent idea. Buys like Brett and other full time folks can be great guides there. Also jeff you can jump in whenever you can while we the lurkers can observe and learn as we are putting together trades etc

Mahmood

Not being Frugal with GOOGle...

ALB - How far down do we see this going ? to $35 around Support ? Has heavy volume on the downside today.

Hey Option Addicts,

I am looking for a bearish play or rather any play that looks probable, and wanted to see if I was analyzing this chart correctly.

Does NYX look poised for a decent move down? It broke long term(5 month) support of 80 today. I am having trouble determining how far down it could go and the time frame. Also, should I wait for another down day or do I buy at the close if it is going to be below support?

Thanks for the help I am trying to see if I am thinking correctly. Thanks.

Also, GOOG bounced off 500 as support which used to be resistance, now that it is close to 520 do I wait till it confirms a move about 520 and then re-tests 520 support?

sorry its long I have lots of questions.

thanks

Ben

You down with HTZ?

Yeah, you know me.

sold by PCP due to expiration. Looks like a good entry today

BIDU!

I think a possibility for the next X, or MLM is FWLT. This exploded after earnings on huge volume. It then continued higher the next several days on good volume as well. Fundamentals are terific. My interpretation on the volume after earnings was accumulatuion.

I added to my position on 6/11

BIDU....GOOG....moving nicely.

Jamie

how about CLF? some crazy price action lately, but a nice trend. maybe a bounce?

Ben,

NYX

Looks like it may be breaking down through support in the $78.50 area. I'd like to see more volume as this is a good support area, so for me a difinitive break with volume is needed...but it sure is looking nice...

ALB

I mentioned this one this morning when I took the trade, it has good volume and price action breaking through it's support, so a good trade for me as this is a low risk entry. My target is initially $35....

GOOG

That depends on how you are trading it. Today it looks to me like it is breaking out of a flag, but not a lot of volume, but good price action. I took the trade back around 470ish..so I am good to go with it. If it breaks above $520, who is to say that $520 is the new support/reistance level?? It only hit it once....but if you look at the breakout of it's pattern on 5/30, there is at least a 60 pt move...

that all being said, my analysis my be completely different than someone elses. You must apply your rules and style of trading.

Hope this helped...

Lets go GOOG...

Wish I had me some POT..

Good Call on ALB going down thru support on heavy volume

CTRP and RL have beautiful bounces today.

Jeff,
As for the web site maybe a archive of the videos you have done in order.

I don't know maybe a review of each the books on your reading list.

I heard that because Tiger was really bullish he didn't want to getting anywhere near any Puts.

And I think my replacement for US Steel is going to be CTV.

Cheers

Jeff,
As for the web site maybe an archive some of the videos you have done in order.

I don't know maybe a review of each the books on your reading list.

I heard that because Tiger was really bullish he didn't want to get anywhere near any Puts.

And I think my replacement for US Steel is going to be CTV.

Cheers

DUH! No thats not the symbol. Been out at the beach for 4 days so my mind still isn't engaged. That bearish stock was ASFI.

:)

Don't know about a literal replacement for X...

PriceLine.com (PCLN) has a great trend since Nov 2005.

Slightly down today, although this looks great! In the interest of full disclosure, I've never had any positions in it and just ran across it again this weekend.

Thanks Bob,

I'll have to keep watching NYX for more volume confirmation.

You are right, 520 may not be support for GOOG, I was just curious how risky the play was at this level, if I take 500 being support that is fairly risky unless the upside is another 40 points, then the risk reward is more attractive, ultimately I think GOOG will break over 600 but who knows when that will happen. Maybe I'll get in on a couple contracts a couple months out and watch it for a more short term play.

thanks again for the feedback.

Ben

I'd like to direct your attention to TMX.

Nice trendline since about 3/20 and a coiling action/sym triangle right now.

Normally I wouldn't advise 'jumping' a trade, but a few things:

1) Sometimes when the move happens, it happens before the open and you miss it. So sometimes, even Jeff will tell you that it's in your favor to anticipate.

2) the overall trend is most certainly up, reducing the chance of a negative breakout.

3) Volume was huge on the last move up, and has declined during the consolidation here, further reducing the chance of a negative breakout.

4) There's a $6 move on a $40 stock ahead if you anticipate correctly. Time frame is 1 month and being right at the apex, you should know really soon if you're right, and not lose a lot of time decay.

If you size accordingly, you could hit a homerun. This is just to give you a glimpse into a different type of thinking relative to trading.

The caffeine just kicked in on GMCR. It just reached my target.

Sam_H

If you are looking for something simlilar to 'X' ... I think you have to consider:

AMX
POT
DECK
STR

They are all trending very nicely these days ... I'm in all 4 of them and they haven't disappointed.

Also - TNH ..

Just ideas guys ... Good blogging today . Thanks for the ideas.

Bounce Alert: AMG and CE

SusanFM

Brett,

thanks..like it, took a small position myself. Also went short TOL....

Anyone notice the double top on forming the $Djx.... Anyone else have an opinion?

D

Danny, I thought that today as well. But I feel it is just too early to call

400,000 more volume than average on NYX. Enough?

liz

NYX



If you think it is enough and it fits within your rules...??

Thanks for the reminder Bob!

liz

This comment has been removed by the author.

LIz,

It is certainly a low risk entry..I just like other setups better for me...

BOOM...Asc Triangle with a projected 10 pt target over 5 months. Add it to your list for a breakout.

Jamie

Hello everyone. It's been a busy day moving Sherwood Forest from out back yard to the school for grade 8 grad. I'm scratched up and my muscles ache. Both accounts are up today and I bailed on STR which has made me a nice 60% profit but seems to be peaking. This is not my normal style of trading... normally I'd hang on to it and let the trend continue but I needed some money for a couple of picks that were right at support. It's a bit of a change in style for me and it'll be interesting to see how it goes. I'd love to get into BA too, but have no cash. Everything is working out so well, right now... I don't want to get out of ANYTHING!! My 401k might need a bit of tweeking as it's only up .45% today. SHNY isn't performing, and X has me tapping my toes, although as a long-term investment I'm still good with it. STR's a bit wobbly lately too (sort of like me last night.)

Liz, I took a small position in NYX today. Pattern trading isn't my primary style, but I'm trying to learn so I thought I'd give it a go. The setup looks as good as any to me.

C2

X has me doing more than tapping my toes, but I was told this was a family site, so...never mind..

bought an ITM put on NYX. Thought volume was sufficient on break of support. remember volume less important on way down.

Ron

Chris and Catherine,
(I think I'm talking to Chris today.)
Anyway, when I find my money invested, I start looking at the 1 year chart and see what has moved the most. Example, if I have a stock that moves 80 pts a year and one that moves 20, I go with the 80 pt one. Duh!! I know that sounds so simple, but I found I had money invested in slow moving stocks and should have it in the uptrending big movers. That might help you shift some cash around. Also, sometimes the charts can be deceiving. Another example would be if you have stock in LTR (good stock by the way,) but see an entry on POT. I'd go with POT because it is a bigger mover. I'm sure you already know all this. I just figured it out last month. I felt stupid not noticing that.


Michelle

No Danny, I didn't notice the double top on the DJX. You know why? Because there isn't one. Don't even think about it.

If you start to guess patterns, you have to include a cup and handle on the DJX. You have to include an ascending triangle on the DJX. A double top will confirm if the Dow drops over 400 points. That's it. This is a bull market and you should trade it this way until proven otherwise.

That includes a bounce off the trendline at 13,450. That would be perfectly normal.

Remember: Continuation of a trend is MUCH MORE PROBABLE than a reversal! STOP LOOKING FOR A REVERSAL!!! It will show itself when it's time.

You'll need a GPS to track GRMN soon....nice close

Jamie

Tim-
I love pattern trading. I like bounces too! Those took me awhile though and I'm still learning. As I was telling Brett earlier... My weak points, though many still yet, are head and shoulder patterns. I went ahead and took a small position in NYX as well. End of day 700 thousand over average volume and it's a nice low risk entry.

C&C & Bob-

X is making me a little crazy as well but it's still within it's normal range so... I'm keeping it. And did you see what PAY did today? It dropped right back down below it's trendline and a horizontal line as well. And so did KOMG. I think Jeff is right. Cosmic lines and all. ;-)

I still like STR. I think it still looks good but sometimes you see something better. I totally understand.

All I have to say is thanks for PCU & POT! I'm watching POT closely as it's right at the top of it's channel.

liz

Brett, could you please be clearer on your explanations. Your confusing me.

Jamie

I had gotten out of X before it did the big move on the news (last week I think.) Just got back in it. I think it is right at support or close (support maybe 112.)



Randall and Michelle

Jamie,

too funny...

In Re: Chat room.
I know some people have suggested a chat room. I would have a hard time following the dialogue if there was that much going on. The blog is perfect. I can check in at different times of the day and get ideas and encouragement without missing stuff. Just my thoughts. Thanks for all the work you do, Jeff. We appreciate it. This is a perfect site to help us with our trading.


Randall and Michelle

If anyone wants to learn patience in trading, talk to Bob Raimo, he's been in X for how many 'years' (kidding). He's been holding it for a long time waitin' for it to pop back up.

I had gotten out shortly after the 'big' day, then re-entered, so it's once again testing my patience as well...I too am 'learning' from one of the Masters of Patience!

I am a big proponent of a chat room...but I think Randall and Michelle bring up a very valid point...Maybe there is some techno wizard that can do something to give us our buritto and eat it too..

I have a question about movies. I love to watch good, inspiring movies. Some of my favorites are A Few Good Men, The Last Samauri, Saving Private Ryan, It's a Wonderful Life, Five People You Meet in Heaven. There are so few good movies out these days. Anybody got any movie picks that inspire and build up hope against all odds?

Michelle

Wouldn't a chat room be just a glorified version of this, without saving the data for future review?

Being able to read all of these after hours, after the fact, being able to go back and review different comments, whether days, weeks in the past is ideal.

If someone can help the rest of us understand the advantages to a chat room without losing the benefits we have now would be great.

I like NOV its been staying high above the 30ma with 100% daily volume. A nice parabolic trend.

I never saw a chat room as a replacement for this. I see it as an enhancement, a better way of instant communication for those that trade all day, have a day off, etc..and want to talk about trading ideas and stuff without taking up blog room. I have lots of questions for example that I would ask most people on this blog to try and learn more about trading, to better help me as well as them, but the posts would get way too long and difficult to keep track of. A chat room would not deter me from contributing to the blog posts. I bet I'd post more after having discussions, feedback, ideas and trades exchanged, etc...

but thats just me..

Michelle,

Pursuit of Happiness is excellent.

I think my concern about a chat room is that it would evolve into a replacement for the blog and it's storage of ideas, thoughts, learning and for those that cannot participate during the heat of the trading day, it would be a loss for them and the information that it conveys and later thought that it evokes.

I know I've thought about things on the blog after the fact, will then go look at the comment again, then refer to a chart, etc.

I'm not necessarily opposed to the concept of a chat room, I would be more concerned that we not lose what we have now. And if folks use the chat, then I'd say that is more likely happen...why would folks restate something on the Blog, that they just chatted...most likely they wouldn't? Just my "too sense", "$0.02", "two cents", etc...

(Hey, at least I'm paying attention to something!)

What about a forum? It would be cool to have posts for each trade, maybe in major sections could be: Education, Bullish Trades, Bearish Trades, then have patterns, bounces, and reversals as subcategories.

That way you could follow all the chat on your chosen symbols, plus get feedback. The new forums are very good for being able to review all posts since your last visit, or viewing by time of post so you can follow the thread.

I love the bookstore, and also second the idea for an archive.

It would be cool to have a section for "Jeff's watch list" or "Brett's watch list" (if they were open to sharing), so we can see what they are watching.

Another idea would be to have a "Red Hot" alert for trades that are ready for entry.

Michelle
Balboa;
The movie itself wasn't great but the underlying message was awesome in reference to life.
"Gladiator"
"Breaking away"
"BraveHeart"
"Band of Brothers"(Amaziing Series)
"Powder"
"The Iron Giant"( I have kids but great movie)
"Shawshank Redemption"
"The Green Mile"
"Patch Adams"
"Iron Will" Love it

I'm sure there's alot more but I can't think of them right now.

Grant

Bob Raimo, everyone,

Just to make sure all understand my comments, as reading can come across differently than intended.

I have the greatest respect for Bob and what he has to say. We may have differences of opinions, although my comments are not terse or otherwise negative or derogatory. Just expressing differing views...thanks!

Too late Chip.

You haven't heard a response from Bob because he has jumped in his pickup, the one with the dual gun rack, and is headed for Ocean Springs.

I bet you could talk him out of any retaliation with a case or three of Yuengling.

Thanks Liz and Amy. Great picks. Loved Pursuit of Happyness.

Liz, Have seen most of these, but there are a couple of new ones that I'll check out at the video store. The one you mentioned about having kids, I'll probably pass on. I have kids, too. I have gotten less tolerance of junk in movies now that I have little ones. I thought Good Will Hunting was a good movie, too, but too much cursing, etc. for me to watch.

You guys have a great evening,

Michelle

Sorry, Grant. Just realized you were the one posting. Bet with that list you guys would love Saints and Soldiers. Excellent movie that didn't get a lot of press, but won almost every time it was entered in a film festival.


Randall and Michelle (Michelle posting)

Eric,

I'd been wondering about a forum as well, although wasn't sure how express it the way I was thinking...so here goes...

The neat thing is that it would have the opportunity to handle many more topics and users could target certain areas of interest.

It could handle many users, probably more than is really conceivable in this format.

It would require a service and/or a server to handle the application, etc.

Forums typically have people managing each area, which could be done with all of the folks who come here to visit.

It would probably spread things out a lot (for better or worse) and we might not get the same flavor we get now, although that might not necessarily be a bad thing if the readers/participants continue to grow, which I'm sure Jeff wouldn't mind.

Navigating between the different areas might be somewhat challenging to keep up with. It could be separated by very simple things like Bullish, Bearish, Patterns, Bounces, etc, etc. Separating by individual symbols might not be easily managable.

Everything would be stored for review after the fact, similar to the blog and Jeff could start new issues in one or all areas daily. Typically forums will display unread items responses as bolded, etc.

To be objective, my concern would be that it would be overwhelming to keep up with the different areas if there were too many, so limiting to a few, at least to start might be best.

Users are typically registered and anonymous users posting are not allowed, although that may be configurable depending on what system is used.

Overall this might work, although would require a lot of investigation and forethought. For me personally, I might be open to the concept.

And John (Logan), I knew someone would misinterpret my comments!!!

Although if, all it takes are some beers, I'll bring Bob some 'real' beer from Germany to take care of that!!!

Michelle,

As far as good movies, 'Coach Carter' is one that Mark Broberg recommended when he taught our Basic Options workshop. I also like 'Pay it Forward'.

--Patti

Patti,
Thanks for the input. I loved Pay it Forward. In fact, we own the book and movie. Saw Coach Carter. It was okay.

Maybe I'll pull out our copy and watch it when the kids go to bed until I can check out some of Grant's picks. Thanks again, you guys. It is a good way to relax and get inspired and motivated at the same time. Good books do that, too, but I'm craving a good movie.


Michelle

Now boys!

Do I need to intervene?!?!

There's enough beer for everybody! Just leave the guns outside.

;-)

liz

Michelle,

Forget all those other movies. You have to see "October Sky" before you see any of the other recommendations.

Ron

As far as the blog is concerned:

Here's my two cents... I like how it is. I like the additions that you've made Jeff. I like the list of book recommendations and the new teaching video. These things are a wonderful bonus to the already invaluable insight you and all the other bloggers add to this website.

Even though I like the idea of a forum I think it might be a little confusing to most people especially if you're on a particular thread and you realize that the idea you have is bearish so you need to input that info somewhere else. I would end up jumping all around trying to follow threads. But that's just me.

Though, I do like the idea of archiving the video watch lists and teaching videos.

I also have mixed feelings about a separate chat room. Even though I'm on the website most of the day because I'm lucky enough to do so, I would be afraid that the spirit of this website would somehow go missing. I like being able to see the same names every day. It makes me feel as if I'm not alone. Having three small kids and a husband that works nights (including on weekends) makes it hard for me to go to most of the trading groups so for me, this is my group. And having this community has really helped me in my trading. Yes, my account has grown, but it's more than that. I have a lot more confidence in my trading ability and I don't feel as uncomfortable when I make mistakes. And I don't mind the tough love that's given out. Lesson learned and I move on. Even on down days... everybody keeps each other's spirits up. We laugh, albeit nervously, but everybody jokes around about their accounts and it takes the pressure off.

Once again, my $0.02. And I can be very adaptable to change. It just takes awhile.

liz

I tried to keep it short. Sorry! But it's hard to talk about the blog and keep it short.

liz

Hey Liz, does that mean you're buying the beer?!

Good comments!

Thanks for all the great "read" recommendations....i think audio book is the way to go for me, since i have virtually no down time......this way i can listen while i drive ( i guess that will cut down on my phone time)

Has anyone else had trouble listening to the market cast tonight ??? It starts to play friday's then it cuts out???

I don't know if they are another X...but PCU and NOV are the gifts that keeps on giving.

Is there a new watchlist?? did not find it on YouTube......I already have a mountain of stuff to watch, but i always love the fresh ideas...

Yep! I'm buying!

liz

Tonya,
I think Jeff usually posts on Tues. But if anyone else has seen a new watch list or videos, please let me know. I love to study them.

Oh, Tonya,
I know you said you'd read all of Kiyosaki's stuff. Have you read Prophecy, Retire Young and Retire Rich and he and Donald Trump just put out a new book. I saw it on Market Watch last week. Retire Young and Retire Rich I thought was one of the best ones by Kiyosaki.

Thanks, all, on the movie watch list. Ron, I haven't seen that one. I'll add it to my list. When my husband travels and I put the kids to bed, I like to read, look at stocks and watch movies. Hey, I know it sounds boring, but to each his/her own. (Laughter.)
I love this blog. You guys and gals are great.

Liz... Glad to hear you're buying. Bring that thought to Edmonton.

Michelle, "Waking Ned Devine" is a wonderful movie. I just clued in to the whole "size of the move of a stock" thing last week, too. Some kind of cosmic coincidence. I have started picking the stocks that have the most movement. You're right, the charts can be deceiving. I'd rather have a stock that quadrupled in a year than one that's gone up 10 bucks (unless it started at $1)

Everyone in X... it's still keeping it's trend intact. Don't sweat it. Because it's in my 401k I don't really look at it that often, but it's right on support now. Anyone looking at an entry point... this is it.

OK I gotta go. This grade 8 grad thing is taking way too much of my time. Tomorrow I head to LA, then San Fran on Friday. It means I'll be away most of tomorrow but should be around for a good part of Wed, Thurs, Fri.

Brett, glad to see you're not mellowing with age, buddy. I miss our emails... it's been so bloody busy around here that I'm just keeping my head above water keeping up with the blog.

Thanks to everyone for all their input. The blog just gets better and better. My two cents on the chat room, is that I have a hard enough time keeping up with the blog. A chat room would leave me in the dust, I fear. At least with the blog I can catch up after hours.

no chat room...forum...possible

I was able to listen to the Market Cast. The watch list is:
Bull - GRMN (add from last week)
GOOG
LZ
RESP

Bear - HMIN
HIBB
DNA

Hope that helps whoever wasn't able to pull up Market Cast.

Randall and Michelle

Chris-

How long are you going to be in LA? Next time you know you might be here for a day or two let Grant and I know so just maybe we could hook up down here in the states.

liz

Hey attics,

USU hit resistance today, could be a bounce to the down side for four points based on the next resistance. However, the fudamentals do look pretty snazzy. You be the judge.

GBHARDCORE

P.S. for what it is worth, i like the blog the way it is.....for me it is hard to keep up as it is...perhaps i am being selfish???
i don't know, but i do like signing on at night and catching up on Bob's poetry and finding out what part of which country C2 is going to be in tomorrow....i think the blog has good "flow" and a "happy go lucky" feeling to it....like i said, i don't want ot be selfish and hold any body back, but my vote is to keep it as is....

I second Tonya's thoughts. I appreciate the progressive thoughts, but I too would be left behind. Jeff has made some excellent changes and the videos are worth their price in gold. I would hate to lose this.

Michelle, I love movies also. I have two small children and a very busy husband. Reading books and charts and watching good movies are my late evening past times. These two movies may classify themselves as chick-flicks, but they are two of my favorites..."Return to Me" and "Shall We Dance." Good laughs, good stories.
I have a few questions for you about your comments on big movers. Do you mind if we chat through email? agekmyers@bluewireless.net

Have a great evening!

liz and grant,
I hit the big smoke at around 9:30PM tomorrow (Tuesday) and then leave on the red-eye back to T.O. Wednesday night, giving me 24 hours to do optional things like sleeping and eating. Might try to find a CME and chow down on a burrito and try a WM. Anyone looking for the financial collapse of the CME empire? Beware the curse of C&C. I knew youse guys were in So Cal... didn't realize it was LA. We stay at Redondo Beach, not far from the airport. I'll put on my shades, and my speedo and go kick some sand in some body builders face. Then I'll play some beach volleyball and the chicks'll go crazy. It's a curse... Nothing like a 50year old in a speedo to draw a crowd.

After someone dials 911.

I have always been happy with the blog which has become even better as Jeff tweeks it over time. I don't think it is necessary for him to continue to make it bigger and better to keep us coming. It's as much about community and Jeff's willingness to mentor, and us to help each other understand, that makes it 'home' and keeps us here.

I like the new Options Addict's Bookstore. I finally ordered A. Elder's "Come Into My Trading Room"
after it was recommend several times. Seeing it listed in Jeff's bookstore gave me the push to get it. I have Elder's "Trading for a Living", both the book and CD set, which are excellent.

--Patti

Randall and Michelle...thanks for the market cast watchlist....
i don't know what i was thinking, looking for the blog list today....i guess my brain is on monday meltdown mode....
usually on monday, myself and my study partner go to orlando to our "mastermind" meeting and since we did not go today, i guess i forgot what day it was...can anybody say BRAIN FART !!!!

OH.... i almost forgot.....C2.....down here (daytona) we can always tell the canadians on the beach....they are the ones wearing SPEEDOS!!! (lol)it is too funny and "they" wear socks w/ their sandals....no offense, my sweet little grampy is/was canadian...."was" meaning he was naturalized many moons ago, but he is still canadian at heart. Thank goodness he does not wear speedos (well not to my knowledge anyways) he just says "aye" alot !!

bon soir
;-)

Ok, I am late to the blog again tonight. Which is getting to be more of a habit than I would like. Liz I was thinking the exact thing about meeting Chris until that speedo visual and I think I may be blinded... Chris 24 hours is a lifetime if used correctly but I know you are to look professional or you scare all the passengers off the plane. I used to stay in several hotels with the crew on frequent flights between the coasts and wow I got to know more than I needed too about the crew that had my life in their hands.
Pam bought a good up movie that the family liked after we rented it so it has to be good if we bought right? Facing the Giants was the name. It was a bit over the top in places but the "message" was nice if you believe in the spiritual side of life.
Ok, if my typing is worse than normal it is because Pam gave me too much red wine to night. She said we had a rented movie to watch but everyone is walking the dog so I had to check in with all of you.
i9olnla\gahlojfd ouch hitting those keys with my forehead hurts!
Liz/Grant maybe we can start a mastermind group! As I do not fit either you two will have to be both master and mind and we will just attend.

Tonya-

Your visual on Canadians wearing socks with their sandals totally cracked me up. When Grant's father came down here to California for the first time he wore socks with his sandals on the beach as well. He wasn't wearing a speedo though. Thank goodness because that would have been scary!

C&C-

We live in Pasadena. It normally takes about 20 to 30 minutes to get to the airport but with traffic one never knows... No biggie. We're trying to get a million things done before we head up to almost nowhere. And I'll buy the beer in Edmonton. Just give me a time and place. Grant will be excited to have "real" beer.

Bob-

Hitting the keyboard with your head is never a good time. You might be asking the wrong people to be a part of a mastermind group. Though, I haven't hit my keyboard with my head just yet. ;-)

liz

Just a few bearish ideas, then i swear i'm going ot bed...

JCP.... broke down below my support line today

CVH....broke out of a triangle today, but to my surprise it broke down instead of up

Blog Enhancement Thoughts

Long:

+ Weekly instructional video
(Jef'Video) and archived
+ Book Review section- maybe a
comment section for blog members
to offer reviews of the book
+ Resource center - hyper links to
trading related website resources
+ BGC SWIR CY

Short:
- Separate chat room - I feel it
would dilute the current dynamic
of the blog comments
- SPF

Happy Trading

Steve K.

ps: Tiger Woods - similar finish as the Masters but he's still The Man

IMHO: --

IT has forums, you could go use them there.

Different chat rooms will make this confusing.

My vote is for more Jeff, Jeff videos, Jeff posts, topics about trading (like the great when/how to add example), additional opinions from other addicts about trading topics.

This is THE best place to learn.

thanks
strat

Haha, I love the market casts, especially with all the movie and song references. Great work, it's probably the best podcast ever made, gosh!

my ideas I am looking at, long AAPL, GOOG, SNDK, GS. Looking to get into FCX, possibly TCK and HERO. Keeping an eye on NYX for bearish play but that stock seems like it could get a decent move up on good news.

good luck tomorrow.

Ben

liz,
I'll know by the weekend what my July schedule is. I could use a good run, so I could meet you partway, in my sweaty new Under Armour (running apparel for the descerning gentleman runner.) Also got a pair of Crocs for father's day... BUT I DON'T WEAR SOCKS WITH THEM!!!! so everyone look at CROX and UA. Thanks to my family's support they are both scheduled to rocket up.

Bob (and Pam) I think we're going to give you a little sign to hang around your neck... "Hi I'm Bob, and I'm late." But we always enjoy your input.

Remember... like PCU you heard about CROX and UA here first. Actually CROX seems to be coming back to support. A pre-emptive strike would be when it breaks back up above $45.

UA, on the other hand seems to be forming a symmetrical triangle and could go either way. Watch it.

Jeff, for my money, I love the blog the way it is and would rather have more time with your input than any major changes. We all enjoy hearing your take on things and it seems that the Blog Improvement Committee has taken up more of your time lately. That's my dollar's worth (it used to be just two cents, but my account's being doing well, lately and I'm going to swing for a full buck this time.)

Jeff,
I agree with Chris and Catherine. I love the blog the way it is. Hey guys, I know Jeff is always looking for suggestions and ideas, but let's not put any more work on him if it's not necessary. He helps us so much (blog, videos, watch lists, e-mails, marketcasts) not to mention he has three children (one a baby) and a full-time job, and, oh, he is watching trades and trying to make money, too. And I'm sure he likes to have free time to golf, bowl, read, etc. So let's just remember what he already gives. If there is a way to incorporate some of your suggestions without adding more stress or work, then, let's consider it. But I don't want him to get fed up with all the work involved and just say "the heck with this blog, it's too much work."
Just some food for thought. You guys have a great trading day.
Bob,
I know you are an avid reader. Have you read "Stock Market Wizards"? If you have, go to Pg 160, the interview with Mark Minervini. I got tons from that.

Oh, a movie I remembered that was good, "Dead Poet's Society."
Carpe Diem -Seize the Day!!!!


Randall and Michelle

I've said for a year now that the only improvement I would prefer is a separate thread to point out trade ideas. For instance, You have Jeff's post(s) of the day, followed by discussion regarding that post or just anything. Then you have a separate daily thread where I can say: "GOOG is breaking out" or "Watch AKAM for a huge drop," etc. This would clean up the threads and allow for quick scanning for trade ideas toward the end of the day without having to wade through so many posts.

Other than that, Jeff can do whatever the hell he wants here and we'd all be grateful.

Chris,

As I begin reading a response, I always know it's you writing even before I see your names C&C. I always enjoy and usually laugh with your contributions. Thanks!

Goodmorning , XLU for a put! Any thoughts appreciated.

Michelle,
The most important thing we need to consider is giving Jeff more free time to go CLOTHES SHOPPING!!! The bowling shorts are way scarier than a bleach white, 50 year old Canadian in a speedo and sandals with white socks.

Brett... thanks for the heads up on AKAM. I like it... I like it a lot.

Although not as much as TNH. This is a horrible time to get in but look at this thing go!!! An entry a month ago would be up 42%. Don't let the fact that this is a stock deter you. When this pulls back to support dive in head first!!!

Chip... thanks for the nice words, buddy. I'll be looking for a guest spot on 'Da Cast one day and use you as a reference.

By the way... here's one for the analyst's couch. I'm buying OTM puts on KMX for earnings announcement today. What a lunatic, huh?!? I have a hunch because of volume, trend, and the industry that this puppy is going to drop on earnings. I'm risking less than $200 and am doing it strictly for the education (not to mention the kicks). You are all welcome to watch me through the looking glass and see what happens. I got three $22.50 July puts that I'm going to sell today or tomorrow, regardless of what happens. In... and out. Float like a butterfly... sting like a bee.

I am re-reading Mark Minervini (Pg 164) of Stock Market Wizards. With the last couple of weeks (some real down days) followed by continuing bullish moves in the market, some of the stocks I've noticed that had relative strength were MLM and AAPL. I think AAPL might be our next X. It dropped on some news (of lack thereof), but I think in the next week or two we are going to see quite a bit of movement. It just bounced off it's 115 support and is heading up. Another thing I noticed was when all my other positions were in RED, AAPL was in green almost every day, even on the 200 point down day (approximation) we had a week or so ago.
So short and sweet:
AAPL
AAPL
Go AAPL and don't forget GOOG.

Randall and Michelle

Bob, here and I am early...where is that sign Chris made for me anyway. Liz we will have to do dinner and call that our mastermind meeting. I did read wizards and will look up that page later today. Off again but will join back later. I sure like the ideas on stocks but do not have the time to evaluate and place the trades this morning so will go with what I am in for now. I like Brett's idea on a separate thread for trades as I believe that would be an improvement.
Oh and Chris I thought about doing the OTM KMX play last night too but I did two last month as education and the IT coaches really cautioned me. One broke even and the other was a $250 education. Since I am not in the trade this time I am sure it will be a huge success for you.

Okay, maybe I got too much sleep or too much coffee this morning.

Inspiring quote for the day:
Mark Minervini:
"...to be a great trader, you have to have a passion for it. You have to love trading. Michael Jordan didn't become a great basketball player because he wanted to do product endorsements. Van Gogh didn't become a great painter because he dreamed that one day his paintings would sell for $50 million."



Randall and Michelle

very heavy put buying on xlu...many people agree with you...tuck

Thanks, tuck I believe with it's lower lows and being the worst industry check out I shares .com in the kast 30 days. Thank you AMG!!!

It's still early in the day but GROW looks like it's making a breakout. Though with a bearish market today, not sure if it will hold. maybe.....

BWLD if this beaks the previous 52 week high I think it could be a good play

keep an eye on it as it is completing the ascending triangle

Doji Girl , BHI is retracing a little today! Still in it?

Liz, I think Jeff should get you to write promotional material to advertise his blog. Here, here. It's brilliant. So good, in fact, I think this section could easily be made into the first option-addict TV spot:

[imagine a moving voice-over laid over soft, inspirational music, and atop profound imagery of nature scenes, Chipotle, Air Canada planes taking off ... etc.]

"Yes, my account has grown, but it's more than that. I have a lot more confidence in my trading ability and I don't feel as uncomfortable when I make mistakes. And I don't mind the tough love that's given out. Lesson learned and I move on. Even on down days... everybody keeps each other's spirits up. We laugh, albeit nervously, but everybody jokes around about their accounts and it takes the pressure off."

[closing graphic]
OPTION ADDICTS -- We love to laugh, albeit nervously ...

BLUD may be heating up again.

Bob,
I am using today to get into positions that are down a little before the market heads up again.
Plus, I'm doing some reading.
Do you have the book Market Wizards?
The chapter on William O'Neil is great. It is around Pg 230ish.
A lot of good insight and advice.

Randall and Michelle

Bob,
He also recommends some reading. That is where I got the title "How I Made Two Million Dollars in the Stock Market."

One thing he said that I highligted was: "Avoid stocks under $10..... because they are usually down there for a reason."

Tim,
Great concept!! I'm thinking the tinkling of cowbells and buzzing of bees as Bambi grazes in a mountain meadow. Soft music plays, as your dimembodied, melow voice says "Here at Option Addicts, we learn that there are good times, and there are bad times..." The music continues and Bambi frolics playfully. Suddenly, Godzilla's foot drops out of nowhere and squishes the gleeful Bambi. "Tired of losing it all in those market downturns? We, at Option Addicts can turn a bad day into a good day." The Fabulous 4 arrive, wrestle Godzilla off Bambi and a tall, mysterious stranger materlializes, gives Bambi mouth-to-mouth and revives him. The music continues and Bambi grazes serenely. "Option Addicts... We're here to resuscitate your account."

LCC and ALB are wiping each other out, today. Might be time to take profits off the table again with LCC. ALB is just beginning.

GS I'm thinking it's stalled. I've been in it for two months and I'm down 50 bucks. I have July calls on it, so I might just bail and wait for it to show me a re-entry.

Hey Liz, I know what you mean on SLB. I looked at it and decided if I was looking to enter the trade I'd hold off... so why not use the money I'd made on it to get a couple of trades that were good entries? So far it's working, as I bought ALB and JRCC. They're both up a bit, as is SLB. The race is on.

KMX has fallen a bit this morning... making me $15 to the good on my $210 trade. Ooooooooo.

I've got to head off to Calgary and then LA. Have a great trading day, folks.

OptionFan,

I WAS still in it. I tightened my stop this morning before the opening when I saw the market weakness and guess what....I managed to tighten it all the way to the lowest print of the day and got stopped out. I know they weren't gunning for my measley few contracts, but still....

Are you still in it?

Whats up peeps

Liz gave me strict orders today, just look but, don't touch. Hmm kind of sounds like our first date, look how that turned out;)

Jeff

Short and sweet, the blog is great and everyone of us is lucky we found it. Hal la lu ya!(Choir in the background)

What a smackdown
Since I last blogged
Thrown to the wolves
And then got flogged

A chat room bust
That’s what I see
Thank God I got
Some ALB

But from this thread
Yes an outcome
Erics choice
Would be a forum

Now Chip my friend
Head Logans advice
3 cases of Yuengling
And I’ll play nice!! (LOL)

Thank you Liz
For what you say
My gift to you
Is short some PAY

My movie of choice
This is no dud
May I suggest
Go watch First Blood

A chart I see
Lines, candles harami
Thanks you Brett
Thanks for Akami

Too much coffee
Now I must pee
Check out the chart
of LMT

I’ll be back
I am here to stay
Chat room or not
I ‘m good either way!

THANK YOU HNI FOR FINALLY MOVING DOWN!

Ok, fine. You also moved down a couple weeks ago, but I have been very patient with you, HNI. Maybe I'm giving you too hard of a time. Keep on falling and I'll think about forgiving you.

Grant,
Looks to me like it worked out pretty good. If Liz is still trying to ply you with too much wine... you got yourself a winner. And kickboxing just adds a little spice to a marriage.

Bob, good one. Now find something to rhyme with "orange" and I'll buy you that case of Yuengling.

"Purple" while you're at it.

KMX,
Just checked and it looks like earnings are tomorrow (the 20th) at 9:00 AM I'm already up 10%!!!

Coronas are on me!! Well, two of them, anyway.

Chris

So true, So true

Bob
Nice call on "first blood"

Grant

Back from the bathroom
Where I had to pee
I read the blog
What do I see?

A challenge you bet
From my friend C2
A tough one no doubt
What do I do?

I talk out loud
What rhymes with Orange
My throat gets sore
Pass me a Lozange

I’ll take that beer
Are you now purple?
Have you ever had
A purple nurple?

I'm ready for GS to do something, too. I have stock, so no time limit, but it can't seem to break and stay above 230. Maybe if we have a few real bullish days, it will push up and stay. I am looking at BEN. Seems to be moving more. Looks like we are going to have a flat day. Oh, well. I guess we needed a breather anyway.

Got stopped out of one of my LCC positions as I had a tight stop on it to protect profits. But I have one going that I gave some room to move on back down. Still looks like a great play.

Randall and Michelle

Okay, Bob,
Are you drinking beer or coffee?
(Laughter.)
Are you still in GOOG? I think it is holding okay considering the market movement. What do you think of CME? I have a small position in it. It is just kind of hanging around the 540 550 range. We'll see soon, I guess.


Michelle

Yes, still in GOOG, X, GS, PCU, DO.

Short TOL and ALB..

Not in CME, watching it though. This trade is tough for me...breaking through resistance, today opening below my resisatnce line and currently still above it, all the news surrounding it...for me, better trades out there...

Bob, Seriously, Dude, you need therapy. Purple nurple? That's Dr Zuess, isn't it?

Orange and Lozange DON'T rhyme. I'll take a case of Corona, thank you. But that's the closest we'll see, I think.

STX, looks like it's breaking it's trend. Might bail on this one and take the small profits I've made on it. I like AKAM better, anyway.

C2

Purple and Orange, as you know, have no words that rhyme with them.......but c'mon, that was a pretty good attempt, even thogh I was stretching.......

And I'll give you 3 cases of Corona!!! LOL...

Or, instead of Corona....

I give you KBR

Bob,
Deal. Three Coronas, and I'll see you three Yuenglings.

You're right... KBR looks good. DOn't have time for a complete analysis so I'll have to check it out tomorrow.

Good day, all.

new thread...

liz

Jeff, you might want to check into WIKI's as a way to be more collaborative on specific topics. Otherwise the blog works pretty well as is. I don't like forums, they force you to jump around too much and good threads are often not in the topic areas you would expect.

Instant Chat has a tendancy to favor those online all day with the time to spend watching it.

Here's an idea, how about a posting area for boneheaded moves of the week. I thought I bought puts on ALB yesterday. Was excited to see the down move today so went and checked my puts only to find they were calls. OUCH! That 4 day weekend at the beach put my brain to sleep. What a nitwit.

Bottom Feeder,
We did a stupid, too. Last week we had a stop (or so we thought) on PAY to protect profits. Instead of stopping us out, it bought us 7 more contracts. Who-hoo. What do you do? Okay. Now I'm sounding like Dr. Seuss. I have three kids under the age of 5. Does that count?


Michelle

Did anyone take the BWLD trade, you have to be loving those wings!!!


cvx is a low risk entry also OII is finally breaking higher

testing

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About me

  • I'm Option Addict
  • From Saratoga Springs, Utah, United States
  • I am a professional trader and an instructor for Investools. I've had relations with the markets for 9 years. Born in Concord, CA, but reside in Saratoga Springs, Utah. Father of THREE, Husband of one.
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